Public Investment, the Rate of Return, and Optimal Fiscal Policy
Kenneth J. Arrow; Mordecai Kruz
Resources for the Future Press (RFF Press)
2011
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This book, co-authored by the Nobel-prized economist, Kenneth Arrow, considers public expenditures in the context of modern growth theory. It analyzes optimal growth with public capital. A theory of 'controllability' is developed and injected into public economics and growth models. Originally published in 1970